Rupee closes at 5-week high against US dollar
Mumbai: The Indian rupee on Monday closed five week higher against the US dollar tracking gains in the local equity and Asian currencies markets.
The rupee closed at 64.36 a dollar—a level last seen on 14 Jun, up 0.21% from its Friday’s close of 64.45. The rupee opened at 64.36 a dollar and touched a high and a low of 64.33 and 64.40, respectively.
The 10-year bond yield closed at 6.456%, compared to its previous close of 6.464%. Bond yields and prices move in opposite directions.
The benchmark Sensex index rose 0.17% or 54.03 points to closed at 32,074.78. So far this year, it has risen 20.5%.
So far this year, the rupee has gained 5.3%, while foreign investors bought $8.36 billion and $16.12 billion in local equity and debt markets, respectively.
Asian currencies were trading higher after dollar touched a 10-month low on dismal U.S. inflation and retail sales data released Friday saw the measure print its largest weekly drop since May.
South Korean won was up 0.45%, Singapore dollar 0.27%, Thai Baht 0.27%, China renminbi 0.11%, Indonesian rupiah 0.1%, Malaysian ringgit 0.1%, Japanese yen 0.1%, Taiwan dollar 0.05%, China Offshore 0.05%.
The dollar index, which measures the US currency’s strength against major currencies, was trading at 95.18, up 0.02% from its previous close of 95.153.